As per another set of data, 1.5 lakh students from Tamil Nadu availed education loan last year followed by Kerala (99,314) and Karnataka (90,630).

The finance ministry recently informed Parliament that in order to facilitate easy processing and disbursal of loans, Vidya Lakshmi Portal was launched where students can view, apply and track their education loan application.

PSBs’ share in total lending by banks to education sector is about 91.5 per cent.